Internal Revenue Code:Sec. 6043A. Returns relating to taxable mergers and acquisitions.

From TaxAlmanac

Location in Internal Revenue Code

   TITLE 26 - INTERNAL REVENUE CODE
    Subtitle F - Procedure and Administration
     CHAPTER 61 - INFORMATION AND RETURNS
      Subchapter A - Returns and Records
       PART III - INFORMATION RETURNS
        Subpart B - Information Concerning Transactions With Other Persons
        

Statute

 SEC. 6043A. RETURNS RELATING TO TAXABLE MERGERS AND ACQUISITIONS.

    (a) In General.--According to the forms or regulations prescribed 
by the Secretary, the acquiring corporation in any taxable acquisition 
shall make a return setting forth--
       (1) a description of the acquisition,
       (2) the name and address of each shareholder of the 
        acquired corporation who is required to recognize gain (if any) 
        as a result of the acquisition,
       (3) the amount of money and the fair market value of other 
        property transferred to each such shareholder as part of such 
        acquisition, and
        (4) such other information as the Secretary may prescribe.

To the extent provided by the Secretary, the requirements of this 
section applicable to the acquiring corporation shall be applicable to 
the acquired corporation and not to the acquiring corporation.
    (b) Nominees.--According to the forms or regulations prescribed by 
the Secretary:
       (1) Reporting.--Any person who holds stock as a nominee 
        for another person shall furnish in the manner prescribed by the 
        Secretary to such other person the information provided by the 
        corporation under subsection (d).
       (2) Reporting to nominees.--In the case of stock held by 
        any person as a nominee, references in this section (other
        than in subsection (c)) to a shareholder shall be treated as a 
        reference to the nominee.

    (c) Taxable Acquisition.--For purposes of this section, the term 
`taxable acquisition' means any acquisition by a corporation of stock in 
or property of another corporation if any shareholder of the acquired 
corporation is required to recognize gain (if any) as a result of such 
acquisition.
    (d) Statements To Be Furnished to Shareholders.--According to the 
forms or regulations prescribed by the Secretary, every person required 
to make a return under subsection (a) shall furnish to each shareholder 
whose name is required to be set forth in such return a written 
statement showing--
       (1) the name, address, and phone number of the information 
        contact of the person required to make such return,
       (2) the information required to be shown on such return 
        with respect to such shareholder, and
       (3) such other information as the Secretary may prescribe.

The written statement required under the preceding sentence shall be 
furnished to the shareholder on or before January 31 of the year 
following the calendar year during which the taxable acquisition 
occurred.

 

Sources

                          SOURCES
  Pub. L. 108-357, Sec. 805.Subpart B of part III of subchapter A of
  chapter 61 is amended by inserting section 6043A.   
  Effective Date.--The <<NOTE: 26 USC 6043A note.>> amendments 
  made by this section shall apply to acquisitions after the date of the 
  enactment of this Act.    
 

Miscellaneous

                                 AMENDMENTS
      

 

References

                   SECTION REFERRED TO IN OTHER SECTIONS